What Is ByStarter & How Do I Participate in It?

Crypto investors looking to invest in early projects have a lot of options to choose from today. From initial coin offerings (ICOs) to initial DEX offerings (IDOs), there’s no shortage of ways for crypto enthusiasts to get involved in the space and potentially earn high returns on their investments. However, with so many different platforms out there, it can be difficult to know which one will provide the best returns and lowest risks — making careful research essential before committing any funds. 

Bybit is proud to present ByStarter, its latest platform. Find out more in this article about what ByStarter is, how you can participate in it and how much you can expect to earn from it.

Key Takeaways:

• ByStarter is a token sale platform on Bybit that offers users a unique opportunity to invest in early-stage projects.
• Every ByStarter project goes through four different stages — Warm-up Period, Subscription Period, Allocation Period and Results Announcement.
• Learn how you can get in early on promising projects with ByStarter by following the detailed guide below.

What Is ByStarter?

ByStarter is a cutting-edge token sale platform revolutionizing the crypto investment game. Featuring a rigorous selection process to ensure only the most innovative projects are showcased, ByStarter offers users a unique opportunity to invest in early-stage projects before they hit centralized exchanges. 

Although a token listing isn't guaranteed, ByStarter grants access to a world of possibilities to savvy investors — especially those keen on investing in the next big thing. And it doesn't just stop there: ByStarter is also a platform for projects looking to raise funds, despite already having completed their initial exchange offering (IEO) — thus making it a flexible and dynamic platform for businesses regardless of their stage of development. 

How Does ByStarter Work?

Each ByStarter project has four main periods — Warm-up, Subscription, Allocation and Results Announcement. 

Warm-up Period

The Warm-up Period of a ByStarter project occurs in the days that lead up to the official launch, when you can subscribe to participate in ByStarter. During the Warm-up Period, those interested in participating need to register for a Bybit account and complete the verification process. To ensure a seamless subscription experience, it’s strongly recommended that you make a deposit of at least $100 worth of tokens during the Warm-up Period. However, if you’ve missed the Warm-up Period, it’s still advisable for you to make the deposit before your subscription without delay.

Subscription Period

The Subscription Period is when you’ll answer the ByStarter project’s corresponding quiz and commit a predetermined amount of funds according to the terms and conditions of the project.

If you’re interested in committing to multiple projects during the Subscription Period, be sure to check out the terms and conditions of each project first. Some projects may allow you to commit to only one sale option, while others may allow you to commit to more than one sale option at the same time. 

Please note that once you’ve committed, you’re not allowed to make any amendments. The tokens will be locked and they cannot be transferred, withdrawn or traded until after the Allocation Period.

Also, keep in mind that your payment must be made before the Subscription Period ends in order for your subscription to be valid. 

Allocation Period

The Allocation Period is when winners will be randomly selected by the system. There are three outcomes for the distribution results, as follows. 

Receive Full Allocation

If you’ve successfully won a full allocation, all the tokens you’ve committed will be exchanged for the equivalent value of the new project tokens. These new project tokens will then be airdropped to your Funding Account. 

Let’s say that the new project token is Token β, and 1 Token β is worth 2 USDT. If you commit 100 USDT and emerge victorious, you’ll receive a whopping 50 Token β in exchange.

Receive Partial Allocation

For every ByStarter project, there will certainly be one user who only wins a partial allocation. If you’ve won a partial allocation, part of the committed tokens will be exchanged for an equivalent value of new project tokens. The corresponding amount of committed tokens will be deducted from your committed amount, while the new project tokens allocated to you and the remaining amount of committed tokens will be credited to your Funding Account.

Picture this: You enter a raffle with nine other people, hoping to win a slice of the 1,000α allocation pie, with 1α being equivalent to 1 USDT. You emerge as the 10th person to win an allocation. Despite your subscription of 150 USDT, there are only 100α left to go around. As such, you’ll only win a partial allocation of 100α. The remaining 50 USDT will be returned to your Funding Account. 

Failure to Receive Allocation

If you fail to win an allocation, no worries, as you’ll be able to get back the full amount of your committed tokens. 

Results Announcement

During this period, all winners selected during the Allocation Period will receive their token airdrop.

Please note that some ByStarter projects will have a lock-up period or a vesting period. The lock-up period prohibits token holders from selling any tokens during a pre-planned time frame, whereas the vesting period refers to tokens being locked for project members and early investors for a specific duration before the tokens are released. These periods are crucial in ensuring the stability and success of these crypto ventures.

Who Can Participate in ByStarter?

Looking to participate in Bybit’s ByStarter? You’ll need to first complete your Individual KYC Lv.2 in order to be eligible. Please make sure that you complete your verification before the subscription period of the ByStarter project starts. You may complete it by clicking here.

Please note that if you’re in a restricted country, you will not be able to participate in ByStarter. In addition, each project will have different requirements that you can view from the ByStarter landing page. These requirements are determined by the project, some of which include:

• All eligible users who meet the basic requirements can participate in ByStarter, or
• Only whitelisted users can participate in ByStarter, or
• All eligible users excluding whitelisted users can participate in ByStarter.

How to Participate in ByStarter

Excited to jump on the bandwagon and start investing early in promising projects with ByStarter? Here’s how you can get started.

Step 1: Account Sign Up

Register for a Bybit account. 

Step 2: KYC Verification

Complete your Individual KYC Lv.2.

Step 3: ByStarter Eligibility Check

If you’re a whitelisted user, please register your Bybit UID on the project’s website according to the stated requirements in order to verify your eligibility.

Step 4: Fund Your Bybit Account

Deposit at least $100 worth of tokens during the Warm-up Period to ensure a seamless subscription experience.

Step 5: Activate ByStarter Subscription

During the Subscription Period, answer a series of simple questions and get all answers correct in order to proceed.

Step 6: Commit to Win

Commit tokens to the project. 

Step 7: Reap the Rewards

Winners will be randomly selected during the Allocation Period. If you’ve won either a full or partial allocation, the tokens will be unlocked in batches and airdropped to you accordingly after the lock-up period. If you’ve failed to win an allocation, the full amount of your committed tokens will be credited back to your account.

Now that we’ve covered how to participate in ByStarter, you can head to the ByStarter landing page to find out more about the available projects.

How Much Can You Expect to Earn From ByStarter?

At ByStarter, we take our responsibility to our users very seriously. Bybit’s team of experts carefully evaluates each project before promoting it on the platform, ensuring that it meets our rigorous standards for quality and potential for growth. While Bybit is optimistic about the potential of the tokens associated with these projects to yield significant returns, we understand that investing entails some degree of risk. 

As always, we encourage users to carefully consider their investment goals and risk tolerance before making any decisions. Bybit remains committed to providing transparent and trustworthy information to help users make informed choices.

The potential amount of tokens that you can earn through investment on ByStarter will depend on the individual project in which you choose to invest.

What Should You Know Before You Invest in ByStarter?

As with all cryptocurrency projects in the crypto market, it’s important for you to do your own research before investing any of your money. Furthermore, we recommend you only invest what you can afford to lose. 

Please note that each user shall only register one account on Bybit. Bulk-account registrations to farm additional allocation would be a violation of the Bybit Terms of Service, and may lead to immediate termination of all associated accounts and eligibility. To comply with local jurisdictions, Bybit reserves the absolute right to disqualify or take any appropriate actions against accounts associated with fraudulent activities, including immediate termination of any accounts and liquidation of any open positions.

Kindly refer here for more information about the ByStarter risk disclosure.

Where to Check the Vesting Calendar for ByStarter

Curious to know where to check the vesting calendar after you’ve subscribed to a ByStarter project? 

Head to the ByStarter landing page and click on Your Subscriptions. Then, click on Project Details and View Unlock Schedule. 

Keep up with the latest updates of ByStarter events by regularly checking out the ByStarter landing page, or by subscribing to in-app notifications.

The Bottom Line

With strict regulations that ensure only the most promising and innovative projects are featured on Bybit, ByStarter is a great platform that grants you access to promising early-stage projects and enables you to maximize your profits. Take advantage of next-level opportunities and check out the latest project on Bybit’s ByStarter today! 

#Bybit #TheCryptoArk